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Ageas SA's Ageas UK Announces Acquisition Of Groupama SA's Groupama Insurance Company Limited


Thursday, 20 Sep 2012 08:00pm EDT 

Ageas SA announced that following the announcement of exclusive discussions on September 7, 2012, the Company has confirmed the signing of an agreement to acquire Groupama Insurance Company Limited for a total consideration of GBP 116 million (EUR 145 million). The acquisition represents a strategic fit and complements Ageas UK's multi-channel distribution approach, strengthening its presence in the United Kingdom (UK) broker market. This transaction excludes Groupama's UK broking operations. The deal is subject to regulatory approvals and closing is expected before the end of 2012. On completion of the transaction, GICL will become a wholly owned subsidiary of Ageas UK. 

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